CGC Financial Services LLC Boosts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

CGC Financial Services LLC boosted its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,667 shares of the iPhone maker’s stock after purchasing an additional 1,157 shares during the period. Apple comprises approximately 1.6% of CGC Financial Services LLC’s holdings, making the stock its 9th largest position. CGC Financial Services LLC’s holdings in Apple were worth $3,923,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Drystone LLC purchased a new position in shares of Apple during the fourth quarter valued at $25,000. Bull Oak Capital LLC lifted its stake in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. SPX Gestao de Recursos Ltda bought a new position in Apple during the 3rd quarter worth about $71,000. Teachers Insurance & Annuity Association of America purchased a new position in Apple during the 3rd quarter valued at about $77,000. Finally, ARK Investment Management LLC bought a new stake in shares of Apple in the 3rd quarter valued at about $110,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 1.9 %

NASDAQ AAPL opened at $222.13 on Tuesday. The company has a fifty day moving average of $230.54 and a 200 day moving average of $233.42. The company has a market capitalization of $3.34 trillion, a PE ratio of 35.26, a P/E/G ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.92 and a quick ratio of 0.88. Apple Inc. has a 1 year low of $164.08 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is 15.87%.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent research reports. Citigroup increased their price objective on shares of Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $262.00 target price on shares of Apple in a research report on Monday, January 27th. Evercore ISI boosted their price target on Apple from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. Maxim Group raised their price objective on Apple to $215.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Finally, Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $245.52.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.